Oswal Pumps Limited has submitted its Monitoring Agency Report for the quarter ended September 30, 2026. The report, issued by ICRA Limited, confirms that the utilization of funds raised through its Initial Public Offer has been in line with the objects disclosed in the offer document. There have been no material deviations observed in the spending of these proceeds. The company has also made available this report on its official website for public access.
| Company Announcement | Date |
| Oswal Pumps Limited releases Monitoring Agency Report | November 12, 2026 |
Utilization of IPO Proceeds Verified
Oswal Pumps Limited has officially submitted its Monitoring Agency Report, detailing the utilization of funds raised from its Initial Public Offer (IPO). The report covers the financial quarter ending September 30, 2026, and has been prepared by ICRA Limited, the appointed Monitoring Agency.
The key finding from the report is that the company’s spending of the IPO proceeds has been consistent with the objectives laid out in the original offer document. Specifically, there have been no material deviations identified in how the funds have been utilized across various expenditure heads.
Key Details from the Report
According to the report, the utilization of proceeds has been in line with the objects of the issue. This confirmation is based on information provided by Oswal Pumps Limited and verified by ICRA Limited. The Monitoring Agency Report is a regulatory requirement under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Oswal Pumps Limited has also ensured that this report is accessible to its stakeholders by hosting it on the company’s official website at https://www.oswalpumps.com/.
Scope of Monitoring
The Monitoring Agency’s role is to objectively review the utilization of issue proceeds in relation to the objects of the issue. ICRA Limited has stated that its report does not constitute an audit or independent verification of all statements, nor does it comment on the quality, appropriateness, or assurance of outcomes related to the spending.
Specific Object Utilizations
The report details the progress of specific objects funded by the IPO. For instance, the utilization for ‘Funding certain capital expenditure of Company’ and ‘Investment in Oswal Solar’ for manufacturing units shows progress, with specific amounts utilized and unutilized figures provided for the quarter. Notably, there are comments regarding the alignment of purchases under capital expenditure with vendor specifications outlined in the prospectus.
The company has also reported on ‘General corporate purposes,’ with a significant portion utilized and a remaining balance. Overall, the total net proceeds of INR 841.514 Crore are accounted for, with INR 679.429 Crore utilized and INR 210.571 Crore unutilized as of the end of the quarter.
Deployment of Unutilized Proceeds
The unutilized proceeds have been deployed in various instruments, including Fixed Deposits with banks like Axis Bank and State Bank of India, with various maturity dates and interest rates. As of September 30, 2026, the total market value of deployed unutilized proceeds stands at INR 226.391 Crore.
Source: BSE
